Charles Schwab seeks futures/forex compliance director to help shape crypto procedures


Charles Schwab is seeking a compliance director for its futures and forex team, and the job post for the role offers clues to the financial services firm's crypto ambitions.

The Block reported last month that Charles Schwab is currently exploring the launch of crypto brokerage, with sources saying at the time that the firm is looking into how it can offer crypto trading to customers via partnerships with industry companies. The idea is that such services would be white-labeled from a crypto industry partner as early as the end of 2021. 

The new job posting appears distinct from that potential business line, but it does involve some crypto aspects. A Google search for the role indicates that the earliest listing is dated April 1. 

As the job description notes:

"The Futures Compliance Team in Corporate Risk Management supervises all aspects of compliance for Schwab’s futures, forex and virtual currency business, including risk assessments, policies and procedures, training, senior management reporting, Audit and Regulatory exams, testing and managing actions stemming from findings, observations or self-identified issues."

Among the designated duties include "[e]stablishing a virtual currency compliance program." The job listing notes elsewhere that the director role involves:

"Supporting projects to implement regulatory and risk initiatives related to Schwab’s futures, forex and virtual currency business through engagement with multiple corporate oversight groups including, Legal, Corporate Risk and Supervision & Controls. This includes any mergers and acquisitions affecting futures compliance [and]...[m]aintaining a keen understanding and awareness of the futures, forex and virtual currency business model, product offerings, regulatory environment and policy infrastructure."

Under the list of required experience areas, the job listing highlights "10 years industry experience, with 5 years futures, forex and virtual currency compliance and regulatory experience."

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

TRON USDC now available

Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency. 
Read Full Story
Sponsored Post

Layer-1 Platforms: A Framework for Comparison

The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana. We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come. 
Read Full Story
Aug 11, 2021, 5:18PM UTC